ISLAMABAD: The Large Scale Manufacturing Industries (LSMI) production grew up by 36.84 percent on a year-on-year basis during May 2021 as compared to the corresponding month of last year, the Pakistan Bureau of Statistics (PBS) reported.
LSMI Quantum Index Number (QIM) was recorded at 139.55 points during May 2021 against 101.98 points during May 2020, showing positive growth of 36.84 percent, according to the latest PBS data.
Meanwhile, during the first eleven months of the current fiscal year, the overall LSM production increased by 14.57 percent compared to the corresponding period of last fiscal year.
The industrial production during July-May (2020-21) was recorded at 149.07 points against the output of 130.11 points during July-May (2019-20).
The highest increase of 11.08 percent was witnessed in the indices monitored by the Ministry of Industries, followed by 2.63 percent increase in indices monitored by the Provincial Board of Statistics and 0.86 percent increase in the products monitored by the Oil Companies Advisory Committee (OCAC).
The major sectors that showed positive growth during May 2021 included textile (48.25%), food, beverages and tobacco (14.45), coke and petroleum products (4.15%), pharmaceuticals (15.18%), chemicals (28.94%), non-metallic mineral products (48.40), automobiles (409.37%), iron and steel products (39.74%). fertilizers (13.27%) and paper and board (14.77%) .
On the other hand, the LSM industries that witnessed negative growth in May 2021 included electronics (283.09%), leather products (64.77%), engineering products (88.39%) rubber products (25.42%), and wood products (126.52).